Moving metros? Does Pretoria fit your pocket?
Pretoria has seen significant growth in its property market, with new development focused towards the east. At the same time refurbishments in the older areas, conversion of buildings to accommodate sectional title living and the rejuvenation of the inner city have driven activity in the more established areas of Pretoria.
Pretoria truly is developing into the city with something to offer for every need, with student accommodation increasing the popularity of areas such as Arcadia, Lynnwood, and of course, Hatfield.
When relocating to Pretoria the area you decide to settle in will significantly impact the size of the property you can buy or rent.
As a part of HomeTimes’ ‘Moving metros?’ series we’ve asked area agents to comment on what you could expect to pay when moving to Pretoria.
Looking to buy?
With a budget of R750,000 or less, a potential buyer shouldn’t expect to find anything more than a bachelor or one-bedroom high-rise flat in trendy parts of the Old East, such as Brooklyn and Menlo Park. This is according to Karin Peter, area specialist for Lew Geffen Sotheby’s International Realty in the area, who says that more bedrooms and bigger floor space can be bought towards the new east and Centurion areas with a budget ranging from R780,000 to R900,000.
PG van der Linde, Seeff’s rental manager in Pretoria East, explains that with an increased budget of say R1,2m, two-bedroomed townhouses in sectional title complexes are up for grabs in areas such as Faerie Glen, Olympus, and Equestria. According to van der Linde, old three-bedroom homes are a rare find but do come on the market occasionally.
Also in this prize range is a two-bedroom apartment in a new complex in Hatfield, or a one- or two-bedroom apartment in Menlo Park. Peter explains that in Menlo Park, older apartment blocks are popular due to their bigger room sizes, with these units selling for R2m on average.
If you are a family requiring bigger space, Lynne de Vos, MD for Seeff Pretoria North, suggests looking in Pretoria North, where you may get a simplex in a sectional title building with three bedrooms and two bathrooms with a budget of R750,000; or even a two-bedroom, one-bathroom home in a more upmarket area of Pretoria North.
Some R1,2m will get you a freestanding home with three bedrooms, two bathrooms, a swimming pool, and a lapa or braai area in Pretoria North. De Vos says that buyers have options ranging from buying a much smaller, live-in ready home, or a large house with a sizeable garden in need of renovation.
The other side of the coin is individuals with a budget of R3m and more. With this in hand you will have your pick of beautiful family homes in up-market areas of the old east, ranging from Brooklyn, Lynnwood, and Waterkloof, to homes in some of the sought-after Pretoria residential estates.
In the older areas of Pretoria North, a monthly rental of R5,000 affords a three-bedroom, two bathroom home. De Vos says increasing the budget to R10,000 a month would mean a similar-sized house in one of the more up-market areas of Pretoria North.
If you need a rental property closer to the east of Pretoria you could get a one-bedroomed garden cottage in the old east or bachelor flat in Brooklyn for R5,000. According to van der Linde, a rental budget of R5,000 is unlikely to get more than a one-bedroom apartment, even in the newer areas of Pretoria East.
“With a budget of R10,000 you will find an older two-bedroom apartment with dated fixtures and fittings in suburbs in the Old East,” says Peter. “In the New East, Pretoria North and Centurion more spacious homes fall in this price range.”
Van der Linde says that the drawback of these properties, which are generally spacious and give lots of land for your rental, is security and the fact that some of the homes may be in need of renovation. According to van der Linde this has aided in increasing the demand for newer, more secure two-bedroom units in security complexes, with supply following the demand.
“Tenants can choose from a large variety of complexes and suburbs, all offering properties of this type at a rental of R10,000 a month,” says van der Linde. “The most popular areas for this kind of property in Pretoria East are Faerie Glen, Equestria, Moreleta Park and Lynnwood.”
Across all areas of Pretoria, a rental budget of R15,000 per month should afford you a comfortable freestanding home , or newer homes in security estates.
Before packing your things, know this
The agents spoken to agree that the suburbs in Pretoria East are generally well managed, with development of Pretoria East boosting the growth of the area. “It has attracted many savvy investors who are now realising better-than-average equity growth on their investments,” says Peter.
Development of new, in-demand two-bedroom sectional title units in security complexes, as well as the rezoning and redevelopment of big land portions in the older areas into high-density units, has driven Pretoria East’s residential market activity over the past decade.
If considering moving to the North of Pretoria, de Vos cautions that, although the existing public amenities are generally well-maintained, in some areas councillor involvement is lacking, with involvement concentrated on the more upmarket areas. She adds that many areas are attracting young, first-time buyers.